Bitcoin ETF Speculation, SEC Decision Anticipation, and the Industry Giants' Perspectives

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Gabor Gurbacs, who works with VanEck and Tether, got people excited about Bitcoin ETFs. He talked about the idea that when Bitcoin ETFs are launched, they could start at a price of $44 per share. The reason for this specific number is not really about the value of Bitcoin itself; it's more about how people might feel. His thinking is that having a lower starting price might make it more appealing to people who want to buy a whole share of the ETF, instead of just a part of it. This is because $44 is a relatively low price, and people might prefer owning a whole share of something rather than just a part of it.

Big companies in the business world, such as BlackRock and Ark Invest led by Katie Wood, are feeling positive that the U.S. Securities and Exchange Commission (SEC) will make a good decision regarding Bitcoin Exchange-Traded Funds (ETFs) on January 10.

However, not everyone is as hopeful. In a recent survey that asked 437 financial advisers (people who give advice about money), only 39% of them think that the SEC will approve a Bitcoin ETF in the year 2024. This means a majority of these financial advisers are doubtful or uncertain about the SEC giving the green light to Bitcoin ETFs in the coming year.

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The Crucial Decision: Will ETFs Get Approved or Denied?

As everyone waits to see if the Securities and Exchange Commission (SEC) will give the green light to a new type of investment called ETF (Exchange-Traded Fund). The companies managing these funds need to provide important information, like the fees you have to pay and the symbols used to identify them, by filing certain documents (S-1 filings) before January 8. Surprisingly, BlackRock, a big player in this industry, hasn't shared these details yet, adding a bit of mystery. Experts think that if the SEC gives the expected approval, it might happen either on late Tuesday or Wednesday.

Gabor Gurbacs is pointing out how big of a deal Bitcoin ETFs could be. Currently, there's a staggering $500 trillion in global assets (basically, all the money invested in various things around the world). Gurbacs suggests that if just a tiny fraction, specifically 0.5%, of this massive amount is invested in Bitcoin through ETFs, it could bring in a whopping $2.5 trillion into the market.

In the world of cryptocurrencies, companies like VanEck and Gemini are noteworthy because they have teamed up to securely store digital assets (custody partnership) and have taken steps to create the first Bitcoin ETF.

On the other hand, Fidelity has been committed to developing a strong foundation for Bitcoin for over ten years. They have been putting a lot of effort into building reliable systems. In simpler terms, VanEck and Gemini are known for their teamwork and ETF application, while Fidelity is known for its long-term commitment and focus on creating a solid infrastructure for dealing with Bitcoin.

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